Definition of gazump in English:

gazump

Syllabification: ga·zump
Pronunciation: /gəˈzəmp
 
/

verb

[with object] British
  • 1(Of a seller) raise the contracted price of a property after having informally accepted a lower offer (from an intending buyer).
    More example sentences
    • Yes, it sounds as if the modern digital cellular service has already gazumped the WiFi network idea.
    • That committee finally reported last Friday, but the Government had already gazumped it.
    • Whereas gazumping gave sellers the upper hand, allowing them to accept 11 th hour bids above the original offer, gazundering turns the tables on them.
  • 2 archaic Swindle (someone).
    More example sentences
    • Amidst the saccharine clichés, there are lots of uncomfortable moments as she ponders gazumping her client.

Derivatives

gazumper

noun
More example sentences
  • In Britain we are the worst gazumpers in Europe, with about one in three buyers falling victim.
  • Ward off gazumpers and make vendors feel morally bound to proceed, by keeping in touch with everyone involved.
  • When prices are rising so quickly, there's plenty of room for a gazumper to step in and offer the buyer a better deal.

Origin

1920s (sense 2): from Yiddish gezumph 'overcharge'. sense 1 dates from the 1970s.

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